Carl Icahn’s big bet on Apple is paying off huge.
During an interview today defending his belief that Apple will make a 65-inch UltraHD TV, the billionaire revealed his investment in Apple starting in 2013 has been one of the greatest trades of all time, netting about $3.4 billion.
Icahn owns more than 52 million shares and stands to make even more if Apple shares reach his current estimated value of $240 (shares closed today at 129.989). Watch what Icahn had to say about his mega-investment below:
With more than $3.4 billion in net profit, Icahn is now in the elite company of other huge traders such as George Soros, who made about $1 billion by shorting the British pound in 1992, and Bill Ackman’s $3 billion bet on General Growth Properties from 2008 to 2014.
Source: CNBC
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
6 responses to “Carl Icahn makes $3.4 billion from two-year investment in Apple”
“Carl Icahn made $3.4 billion from two year investment in Apple”
I’m sooooo happy for Ichan. I’m sure we all are. ;) Of course, because he has billions he can bet large, and never even feel it when he bets wrong. However, Carl is not correct about the Apple television. At least not now.
He’d feel it, because his investors would cash out of his hedge fund if he lost them money.
Digitaldumdum is spot on, It’s not relevant to his success to simply say he made 3 billion. To be relevant you need to report it in percentage terms….but we all know that the truth doesn’t sound so good does it….
Woooooo…he made 3 billion……
When what he has actually done is probably just double his money……
Oh btw, I invested 3 dollars in Apple a couple of years ago, it’s worth 6 now, clever me!
It’s really odd why he sees Apple being worth having and yet so many others on Wall Street says it’s overvalued and growth is so limited. Of course, Icahn is going to pump what he owns but I’m sure he’s made more money than a lot of players on Wall Street by betting on Apple instead of betting against it. I kind of wish there were be other big investors who would take a chance and start buying Apple, but it probably isn’t going to happen. Apple’s share price will likely be sitting at around $145 by the end of the year and Netflix will be at $1000. I’ll just be satisfied with the gains I’ve gotten so far with Apple and not be extra greedy. Apple stock simply doesn’t have any momentum now.
“Apple stock simply doesn’t have any momentum now.”
True, but let’s not forget that it wasn’t that long since the stock split, times seven. It was a big number before that ($350), and a big split. Investors remember, and buy (or not) accordingly. Personally, I believe Apple is still way undervalued, but as an investor I’m smaller than a fraction of a bit of a particle of a particle of sand on the Gobi desert. I’m not worthy of making proclamations about Apple. I •do• seriously regret not buying a bunch of Tesla when it was $6, and then $15, and then $60, and then $150. I might have been able to afford a Mac Pro AND a gold Apple Watch! :)
Icahn runs a hedge fund. He made his investors that $3.4B. He probably took 20%.